Higher lithium output drives MinRes revenues
PERTH (miningweekly.com) – ASX-listed Mineral Resources this week reported a 16% increase in revenue for the full year ended June, with net profits after tax jumping from A$201-million to A$272-million.
The company reported increased mineral sales of 3.5-million tonnes of direct shipping ore (DSO) in the 12 months to June, up by 2.8-million tonnes on the previous financial year.
Some 382 000 t of lithium spodumene was also sold from the Mount Marion operation, up 266 000 t from the sales reported in 2017.
Revenue for the full 2018 reached A$1.7-billion, up from the A$1.4-billion in 2017, while earnings before tax, depreciation and amortisation was up from A$464-million to A$507-million.
“Our financial results continue to reflect the financial strength and stability of the group’s core mining services business, together with its ability to successfully bring new services and commodity projects on line in record time,” said Mineral Resources MD Chris Ellison.
“The impact of the growth delivered this year will be seen in 2019 and beyond, as we create long-term earnings capacity through the development of world-class resource assets."
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation